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AFRICOAST ENERGY LAUNCHED
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AFRICOAST ENERGY LAUNCHED

FOLLOWING significant growth in the renewable energy business, 
AfriCoast Engineers SA has developed a sister company to exapnd
its vision.
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South African farms face El Niño drought risk on top of Iran war

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South African farmers pinched by mounting costs from the Iran war now face the added risk of an El Niño-induced drought, with implications for lower agricultural output and higher food prices. That’s according to the nation’s main agricultural business lobby, which warned of the growing likelihood an El Niño dry spell will collide with the start of South Africa’s summer planting season in October. “There are worrying developments on the weather outlook front, with serious implications for the farming sector, and ultimately the food supplies and prices in the country,” Agricultural Business Chamber Chief Economist Wandile Sihlobo said in a note on Monday.

€300m AFD loan to assist Transnet’s transition to low-carbon operating model

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State-owned freight logistics group Transnet has signed a €300-million (R5.8-billion) with Agence française de développement (AFD) to support its transition to a low-carbon operating model. The loan is linked to South Africa’s Just Energy Transition Investment Plan, and fulfils France’s larger €1-billion commitment announced at COP26.

NTCSA, IDC seek to catalyse localisation on back of big grid roll-out

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The National Transmission Company South Africa (NTCSA) and the Industrial Development Corporation (IDC) have signed a memorandum of understanding aimed at unlocking industrial financing to NTCSA-verified suppliers and contractors involved in the expansion of South Africa’s electricity transmission network. In a joint statement, the two State-owned entities indicated that they would seek to use the funding to stimulate supplier development, localisation and industrialisation, with a particular focus on commodities such as transformers, insulators, hardware, transmission steel, conductors, and broader grid infrastructure construction.

Competition Commission refers Multichoice, Altech to Tribunal

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The Competition Commission, in a statement on Monday, said it has referred a complaint against MultiChoice South Africa and Altech UEC South Africa to the Competition Tribunal for prosecution, seeking an administrative penalty of up to 10% of their respective yearly turnovers. The Competition Commission lodged the complaint with the Competition Tribunal on April 15, alleging that MultiChoice and Altech entered into an agreement to divide markets by allocating suppliers and/or specific types of goods or services, which is in contravention of section 4(1)(b)(ii) of the Competition Act 89 of 1998, as amended.
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